FTR says December trailer orders were up 10% over November, making the month 16% above the monthly average for 2023. However, the month's total was still 59% below December 2022.
[RELATED: Trailer orders showed slight bump in December 2023, ACT Research reports]
At the same time, FTR says trailer production slowed by 15%. The build number, 20,153 units, was the lowest since the beginning of 2021, but the firm warns that a drop in production after November is normal. Average monthly build remains healthy.
"With orders coming in above production levels, backlogs in December rose somewhat, increasing by more than 3,000 units to more than 143,300 units in total," says Eric Starks, FTR chairman of the board. "The fall in production and increase in backlogs resulted in an increase for the backlog-to-build ratio to 7.1 months. The ratio is slightly elevated due to the lower production levels in December and is above the historical average before 2020. A jump in the ratio is normal around the holidays, and the overall picture is still of an industry that is continuing its move toward a pre-pandemic level of stability."
